Regressive" Methane Tax Will Raise Average American's Gas Bill By 17%
Biden is pushing for it and you can bet after those devastating storms in the Midwest Friday night that it will all be blamed on climate change, in fact the Media Pundits are already trying to propagandize the tragic event for more global warming incentives to control it.
The House bill results in an "escalating tax on methane emissions by oil and gas producers," a new op-ed in the Wall Street Journal points out. The tax will hit $1,500 per ton by 2025 and the fee is supposed to be a contribution to recent promises made in Glasgow to curb methane emissions.
The cost of the fee will obviously get passed along to the consumer, which will then result in even higher energy prices than consumers are already struggling with. 180 million Americans use natural gas to hear their homes, the report says.
In the meantime, the Energy Information Administration (EIA) has come out and stated that half of U.S. households that heat with natural gas will pay 30% more than winter than they did last year. This methane tax could add another 17% to an average bill, the WSJ editorial board writes.